OREANDA-NEWS. December 13, 2010. In Novi Sad, the administrative centre of the Vojvodina province, the ceremony of the Bank of Moscow - Belgrade (Serbia) new branch opening was held. Novi Sad is the most significant regional centre in Serbia after Belgrade and has a population of about 300 thousand, an important transport hub, the country’s second port in terms of freight turnover and an industrial centre where major Serbian and international companies operate.

The branch opening ceremony was attended by the Ambassador of the Russian Federation to Serbia Alexander Konuzin, the Mayor of Novi Sad Igor Pavliиiи, Vice-President of the Bank of Moscow Pavel Gorbatsevich, representatives of the Administration of the Vojvodina province and of leading companies of the region.

The branch is the first remote structural subdivision opened within the scope of the regional development strategy of the Bank of Moscow - Belgrade (Serbia), which provides for gradual expansion of the branch network into Serbia’s major economic centres. The branch offers a broad range of products and services to both individuals and corporate clients and particular attention is to be focused on small and medium-sized enterprises.

"The opening of the branch heralds launch of the programme for expanding the Bank’s regional presence in Serbia", announced Pavel Gorbatsevich, Vice-President of the Bank of Moscow. "This will promote growth of the client base through provision of products and services developed for big companies, small and medium-sized enterprises and individuals, including citizens of Russia working in Serbia. Novi Sad was chosen as the priority for opening a branch because a number of companies with Russian funds operate in the region".

The Bank of Moscow is the only Russian credit institution to have been issued, in May 2008, a banking licence by the National Bank of Serbia. In the interim two years, the Bank of Moscow has invested in the order of 300 million US dollars in the Serbian economy.